tag:blogger.com,1999:blog-3758330678390419129.post3243968677322810589..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Bitcoin Comments for the RecordRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3758330678390419129.post-8065920369694942612017-12-07T09:14:58.387-05:002017-12-07T09:14:58.387-05:00I don't follow the power outage issue. If the...I don't follow the power outage issue. If there were no power, ATMs wouldn't function, and it would be as difficult to use mobile and Internet banking apps as it would be to use Bitcoin. I suspect credit and debit card networks and point-of-sale terminals would also be impacted. If you kept your gold with a safe storage facility, it's possible they would rely on electricity for at The NAPsterhttps://www.blogger.com/profile/16631781625841157567noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-29730081646727482502017-12-06T22:36:44.670-05:002017-12-06T22:36:44.670-05:00The durable comment is spot on! If a currency requ...The durable comment is spot on! If a currency requires crisis diversification because of such an Achilles heel then you have a speculation at best and does it pass the long hold litmus test? Bitcoin is a passtime, Gold and silver are insurance.<br /><br />Shegottawideloadhttps://www.blogger.com/profile/16752677440246325222noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-86517277777955738042017-12-06T16:42:35.635-05:002017-12-06T16:42:35.635-05:00No matter how high Bitcoin and its many imitators ...No matter how high Bitcoin and its many imitators go, it will remain a black box which very few understand. The belief that it cannot be counterfeited is an act of faith. <br /><br />As long as government (a gang of criminals running a counterfeiting racket of their own) controls the internet, then they control the field upon which Bitcoin romps. The myth that Bitcoin is independent of that John Howardhttps://www.blogger.com/profile/09826480541002960583noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-27992572790832203012017-12-06T12:57:28.301-05:002017-12-06T12:57:28.301-05:00A lot of these comments sound like people respondi...A lot of these comments sound like people responding to Peter Schiff when he was talking about the economy and the housing bubble in 2006 and 2007.<br /><br />The fact that people are in such denial about what constitutes money and the block-chain is having problems facilitating that, along with the fact that people are not using it as money but as a speculative asset are alone very real problemsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-31987653038599977322017-12-06T12:53:23.769-05:002017-12-06T12:53:23.769-05:00In fact, the failure of Bitcoin's utility duri...In fact, the failure of Bitcoin's utility during a power outage or SHTF scenario would speak to the requirement that real money be DURABLE; It's why cheese or beef jerky were never valued/used as money, as precious as those things are. Anonymoushttps://www.blogger.com/profile/08236071066075535008noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-26218483196051759102017-12-06T08:09:25.935-05:002017-12-06T08:09:25.935-05:00I'll admit I don't understand the technolo...I'll admit I don't understand the technology completely when it comes to bitcoin (I had $100.00 worth about 6 months ago as a test, and it was, for my wife and me, a nightmare trying to figure-out how to buy something with it).<br />But I don't understand how it can survive the long-game competition as money. I refer back to Rothbard's and Harry Browne's definition of true Anonymoushttps://www.blogger.com/profile/08236071066075535008noreply@blogger.com